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melissa: i'm melissa francis and here's what's "money" tonight. is this the worst election for wall street in history? some are saying yes but are their fears justified? or are they being melodramatic? we'll break it all down. >>> wall street may have the blues u.s. debt is mounting and tax hikes could be around corner. but screw the inevitable. there are still plenty of ways to make money. we'll tell you exactly how to keep raking it in. >>> the "oracle of omaha" make as new gamble. where warren buffett sees the next cash cow and how you can follow in his footsteps. even when they say it's not it is still always about money. melissa: all right, first let's take a look at the day's market headlines. stocks tumble yet again following the worst session of the year yesterday despite better than eepected u.s. jobless claims and u.s. export data. rising concerns over the fiscal cliff shook investors yet again the dow closed down 121 points. >>> disney shares are sliding after-hours the company reported fiscal fourth quarter earnings a short time ago. disney coming in a little light on re
>> fox news election alert. barack obama has been reelected the president of the united states. >> what does that mean for freedom? >> i have no idea. >> that is our show. >> it is finally over now we have four more years of barack obama up. what does that mean to me? freedom. in chicago the president's lugging supporters asked what does that mean for freedom? >> freedom? >> freedom? >> i have no idea. [laughter] >> freedom? freedom? [laughter] >> let's dance. most people had no clue what to do with the question. that is upsetting to me. the man who has taught me a lot about freedom david those. were you surprised? >> i am dumbfounded. i would not expect they would give the answers i would like but i thought they would have an answer. >> it is this what good government give me? free down is not part of that. >> there used to be dead counter culture left like the marijuana freedom doing your own thing even if they'd understand starting a business is also doing your own thing. it is disappointing they don't even big of a connection between the democratic election and the impact o
obama defied the polls and predictions in an election that was expected to be one of the closest in history, even with florida tonight still up in the air. the president won more than 300 a tour of votes to secure another four years in the oval office. many republicans are left in shock at the results asking how with 23 million people unemployed almost 8 percent unemployment, record national debt in excess of $16 trillion, scandals and controversies from operation fast and furious, the benghazi cover-up, how could president obama possibly win reelection so impressively? a popular vote margin of more than 2 million votes, but an electoral vote margin of almost 100. an examination of the fox news exit polling data shows the obama campaign won big with key constituencies, and a strong showing by the democratic base responsible for putting the president over the top. president obama drawing on the latino community. xbox projecting 71% of hispanics voted for the president. that number up from 67% in 2008 and, of course, the historic level. the president's support among black voters ac
these developments has been managed, and if so, to what purpose. today two days after the president's election, we learned that two iranian fighter jets, like this one, attacked one of our unmanned an unarmed predator drones. that attack took place 16 miles off the coast of kuwait in international airspace. happened last thursday, but an administration official has remained silent until today. today we learned that boeing will be slashing another 10 percent of management jobs in its defense division by the end of thii year in an effort to cut more than $2 billion in costs. boeing says it cannot project exactly how many workers will lose their jobs as a result. and boeing is going to some great lengths to insist that these layoffs have nothing to do whatsoever with the sequestered defense cuts set to take place next year. you will recall that less than two months ago the obama white house was so intent on avoiding publicity like this it offered to indemnify government contractors for losses and find if they held off on issuing left notices. that is required by the warrant act until after the electi
reserve board. scott, the election, first of all, that pulled 400 points from the market, the dow, and president gave a talk, but the markets flat. what's it take to put the 400 points back into the market? >> you know, david, when we talk about the election, i don't think it mattered whether it was obama or romney because, remember, the eve after the election, after obama had already been declared the winner, futures were up, and then about five o'clock central time, the morning, we got that news coming out of europe, groggy, that maybe this con they onin europe was now heading towards germany. david: scott, scott, stop there. you say the 400 points from the markets the two days after the election had nothing to do with the election? >> some of it did, but i'm telling you, much of the momentum on wednesday morning was due to the news out of europe, and last day or two is just a follow-through. now, to date, disappointing we couldn't hold the rally? absolutely. i tell you the traders down here behind me issue everybody is flat, and everyone now believes the next move is going to b
's presidential election will now play a big role of roy then decide to hire again. round table of business incentives to tell us what to make of the election and one of their biggest concerns, the living fiscal cliff. chief executives of cke restaurants. bill miller is the senior vice president of business roundtable. welcome to you both. i am going to start with you. we talked to you before about this issue of the cliff, the change in the white house. a lot of ceos out there tell me, we don't know what is happening. that is why we are reluctant to hire. in answer to one question. today we know who is president for the next four years. will you hire? >> good to be back. and we will continue to hire. i think that the weight at which ceos are going to hire depends not on ideology are, you know, which party is the president's power but where they believe their revenues are going to go and what they believe their expenses will beat. you look over five years, so if you think revenues of go up, gdp would get better, but i will come down. you're more inclined to invest and hire. if you dig energy
high marks for addressing things. in retrospect, we were covering this before the election. it still wasn't going so dandy, but leaving that aside, i'm beginning to wonder the simple wisdom of those who are in the middle of the power blackout in their cellphones cell phones are down and those people patting themselves on the backs texting and e-mailing people what to do. >> when you don't have power in your out of phone service -- well, you might try something else. because that's not working. >> we are in the middle of the response phase of this disaster. not discounting the nor'easter became the return hurricane sandy. the recovery part has not even begun. gas lines are still not operational. we pointed out earlier today. shower. we hear of over 115 deaths created by the storm. and also its aftermath. people are still hurting. we are still in the response phase. recovery is the removal and the cleaning up of debris and getting rid of the water first. people need to be realistic in our government agencies from the local to the top, they need to be there and show them wave the flag a
, made it fairly clear he wants taxes to go up on wealthier taxpayers saying after the election, he was re-elected, democrats back in the senate, and the message in the campaign is wealthier people need to pay more. therefore, that's the approach he's taken. as for what happens in the3 negotiations and next year, we're still very, very early in this, and so we continue to move forward. what we heard from house speaker boehner, he'll talk revenue. unprompted the other say said we'll discuss revenue from an overall of the tax system. that's something he wants to accomplish next year with entitlement reforms. mitch mcconnell was stronger saying he was nt sent to washington to raise taxes to pay for more wasteful spending. this election has not changed anything. neil, the discussions, at least face-to-face beg next week. the president invited congressional leaders to the white house for a meeting, and congressional leaders are rking out a date and time. back to you. neil: rich, do you get a sense there's a difference between the house and senate approach to this? i agree with you in hea
investors are somewhat happy that the election is over whshg you like the results -- whether you like the results or not. it's one less thing we have, this wall of worry that's on our markets here. europe is clearly a top headline now. liz: once again europe becomes the headline according to to john. let me get to the nymex. we're seeing a move higher in pretty much across the board the energy complex, but it is rbob gasoline -- gasoline moving up a full percentage point. it's been languishing down a couple days since the storm. what do you attribute to that? are you worried about it or excited about it? >> i would like to see all the prices lower, cheaper for my gas in the car. right now the way i'm looking at it is at the moment, it looks like it is heading up. we had to break $84 in crude oil which i think would take the whole energy complex down and take it down quite a bit. but we haven't gotten there. tested it a couple times. can't break through it. right now short-term i see it going back up. however, we've passed the elections. that's out. we passed hurricane sandy. that's ou
of the bears went on a campaign after last night's election. stocks posted their wor day of the year with investors spooked er fiscal cliff fears as well as renewed concerns over europe's debt crisis. that didn't go away by the way. the dow plunged 312 points, closing below 13,for the first time since september 4th. bank of america led losses for the dow diving more than 7%. shares of jpmorgan also fell more than 5%. one of the few bright spots on the day, hospital stocks, shares of industry giant, hca holdings rallied more than 9%. the only place to hide today. >>> our top story tonight, the markets got hammered today. the dow closed down 312 points. that wasn't even the low of the session. but look at the bright side. four years ago the market also took a beating, dropping 486 points the day after president obama won the first time. you have to admit, they have managed a nice comeback since then. it will be okay. the question is, do's market selloff is it a one-day fluke or indicative of things to come? here to start us off on this one is united advisors chief market strategist sco
science. it's just common sense. from ameritrade. stuart: two days after the election the fighting is starting on capitol hill. all about the fiscal cliff, the national debt and taxing the rich. no matter which way you look at it a tax increase looks almost certain and soon. here is senator harry reid. >> people making all this money have to contribute a little bit more. all the polling we have done, the vast majority of the american people support that, including rich people. stuart: the president and harry reid have more clout after the election and they are pushing tax the rich. house speaker john maynard taking a much softer line. is he hinting compromise on tax money to washington? listen to this. >> there's an alternative to going over the fiscal cliff. in whole or in part. involves making real changes to the financial structure of entitlement reform and reforming our tax could occur bit special-interest loopholes and deductions. imus: got that? organized labor's joining the conversation. tax now, cut later. richard trumka says don't worry about the deficit. >> we strongly be
first remarks of the white house since his election. expected to focus on the fiscal cliff in the broader economy. those comments live in just a few minutes. lori: interesting. the remarks coming after they come off of the weakest decline in a year. the markets near session highs, but will the market like what they hear? melissa: plus, what will the next four years mean for the oil and gas industry? the ceo will join us coming up. but it is time for stocks as we do every 15 minutes let's head to the floor of the new york stock exchange. stocks are climbing higher after the two-day drop. sandra: they did not start out that way, there was fear we would have another dramatic selloff today. now we are somewhat up from about 61 points. that is not exactly a rally. bouncing back a little bit ahead of the weekend, but still the worst two-day drop in a year, 434 points loss over that wednesday and thursday. as we face a fiscal cliff, consumer sentiment one piece of economic data that came out today better than expected in november hitting a five-year high, getting a little bit of a
evening, everybody. the presidential election, the balance of power in congress has been decided, but this is certainly not the new beginning president obama had once envisioned. with the country set to hit the so-called fiscal cliff at year's end president obama and congress are seemingly committed to repeating their rhetoric and, perhaps, their mistakes as they ostensibly work toward avoiding the calamity of going over that fiscal clef. house speaker this morning made it clear. he thinks this is the president's moment, and he called upon the president to lead, and he called on the president to find middle ground between a bitterly divided republican house and democratically controlled senate now, this is an opportunity for the president to lead. >> this is his moment to engage the congress and work toward a solution that can pass both chambers. and earlier this week the president and i had a short conversation. it was cordial. i think we both understand that trying to find a way to avert the fiscal cliff is important for our country. lou: the speaker also noted that when he cam
. the market thinks we are driving right over that fiscal cliff. take a look. since election day the major averages are down at least 5%. the dow, nasdaq, as and become even the russell 2000, small-cap stocks dropping sharply. so, where republicans go from here? we will hear from one congressman coming up. for now, joining us, we have met he declared from americans for tax reform, the group that has played a big part in shaping gop attitude toward tax policy. thanks for coming in the show. we have a lot of really surprising headlines tonight, but i want to start with this idea that the fiscal cliff is something, this is what the democrats are saying, that this is up to the president and the democrats. they say were not going to give the gop of voice. our way or the highway. and of the president starts every speech saying out compromise, but the ins in a totally different way. have you read this? >> it's interesting that you have democrats, leftists saying that they somehow have a mandate to fight taxes. whenever they're claiming. when you look at what happens, all that happened was the 201
the willows report is next. rri: >> hello. morning quarterbacking on the election has begun to billions of dollars of campaign spending and what we have to show? not much. the same president the same congress the same problems. the fiscal cliff that pushes our economy into another recession. the lower economy and higher taxes a bad cocktail. , promised a new era but that reminds me of groundhog's day. it is great to have my guess here. the perfect do well to talk monday morning quarterback. yourself awful the president today actually calling on boehner and harry reid to say we have to come together. we could have seen more of that from the first administrations that he is doing it now. what are the odds they get together? >> everyboby hopes they are high but you want to avoid the high stakes game of chicken and during the lame duck session. that could have been. but his willingness to meet with mitt romney and boehner to resolve the situation. but if you heard voters press conference he sounds like he is the same position under no circumstances will taxes ever be raised. ger
, i almost completely agree with you, neil. where i will give the elected officials the benefit of the doubt, they want to try to be hopeful, right? they want to try to give people something good about, thank you for the good stuff you are doing. >> you're saying things are ok, you're not giving them hope, air lying to them. >> that's not true because-- >> you're compounding the problem. janet napolitano swept in there like me at a deli sale and then got out of there all of a sudden bragging about help and two days later the sfit facilities are shutting down flew a storm and fema comes through a storm. >> by the way, it's our job to criticize fema and we're doing exactly that. the statistics and the structural problems that gerri talks about are exactly right. these are problems and they should be fixed. but i agree with ben that, you can't make the assumption that the local officials will do any better after job. >> yes, you can. >> are you serious? >> no uyou can't. >> neil: bring in charles payne. >> of course you can. >> you know, i can't believe what adam is saying, that so
banks, future of regulation now that the election is over. we talked to former governor tim pawlenty who is the ceo of the financial services round table, members include j. p. morgan -- jpmorgan, bank of america and citigroup. dave: let's tell you what drove a markets today. stocks extending losses after suffering the biggest drop of the year and broad market sell-off, major indices closed the trading day at session lows. the dow is down 400 points, a consumer discretionary, the worst performers, utilities the only sector to eke out any small gains. gold rising about $20 following european central bank decision to keep its monetary policy intact. the precious metal climbed to $17.26 an ounce. it is a safe-haven investment and higher after hours. u.s. weekly jobless claims fell more than expected dropping to a seasonally adjusted 355,000, a drop of 8,000 claims as a possible sign of a healing job market although officials are warning figures may be distorted by superstorm sandy. the four week average applications rose by more than 3,000 of these numbers, change from week to week. liz: le
outside of american express and that group. i suppose elections have challenges when they happen, they have consequences when they happen. that's what we will see with these discussions. cheryl: you still stay market is oversold. if that were truly the case, why even on a day like today, when we were up almost 100 points and then boom a pullback, it seems like if we're that oversold, there's buying opportunities on a day like today. >> we've had the market oversold with some of our quantitative work since middle of september. because of overhang of all the issues we're dealing with. europe came back into the fore right up to the election. the market can't get back on its feet. in our work we would go s&p 500 -- we would go neutral on the s&p 500 around -- [inaudible]. i think a deal will get done but i don't think we will get the grand deal we're all hoping for before the end of the year. short of them giving any clues going forward, we will hang around this level. we will move up and down, it will be a schizophrenic market for some time. cheryl: still below the key 13,000 mark.
will adjust the election. ken burns is with us today. dagenn the footrace investigation. he said 30,000 e-mails to that tampa woman who triggered the fbi probe. connell: the president kicks off his fiscal cliff meetings with labor leaders. those readings are happening in this very hour. let's talk about stocks now as we do every 15 minutes. nicole petallides starts us off from the floor of the new york stock exchange. nicole: market picking up some steam. first i want to take a look at a mover and that is a k steel. they have come out with their numbers. the prices will likely decline. the steel company is under some pressure today. it is down over 8%. you can see here, right now, it is under some pressure. i want to take a look at the broader markets. the dow jones industrials at 12,884. still not at 13,000. we have lost some key levels that everyone was looking four. at the same time, we just got a pop here in the last half hour. do not forget, you have seen selling three weeks in a row. the 26th of october, almost a 2% loss. back to you. connell: thank you. dagen: the bush tax cuts exp
election the last two days. the dow up about 17 points. green arrows across the board. gold is up, oil is up, getting a little bit of a bounce in the markets selling off after the election. this stock not getting a bounce back. jcpenney down in today's sessions. a 3% loss for the company after a narrower than expected loss for the quarter. sales missed estimates getting hit hard today, the number for r worst performer in the s&p 500. that turnaround not working, still looking at the results. connell: as the market has told him, this fiscal cliff is a big deal. rich edson with what we can expect from their later. >> we can expect the president to address economic growth and the deficit. we have the fiscal cliff negotiations beginning on capitol hill. the congressional budget office saying they will shave half a percentage point off of gdp next week if congress doesn't address the tax increases and spending cuts scheduled to hit the economy for this current fiscal year taking us all the way to september of next year. as for what the president's position will be, we're still waiting for w
of representatives. they were elected with a written commitment to their constituents, not to me. clearly they are committed to opposing his tax increases. gerri: grover, you're not asking my question. if they were to come to you individually, will you work with us, what would you say? >> the same thing that happened two years ago. when the exact same situation would have been. holding his breath until he turned blue. the republican said, thank you very much, we're not going to raise taxes and the president signed a two-year extension. gerri: but will it happen again? you think we wilget anywhere on this or will we find ourselves flying over the fiscal cliff? >> obama has several problems. one is he doesn't want to throw the country into a worse economy and he's already created. he will extend the tax cuts for another two years. exactly what he did two years ago. the cuts in spending from the sequestration -- those will take it back. that is good for the economy because it is the only spending restraint. gerri: some people don't think so. especially with iran right now in parts of the mid
. very good prstrategy but i think we know where h i coming from, is he over reading the election results, or is he only guy seizing on it? >> they both are over reading the results, republicans, they have to electric wat look at the elect campaign and me friends beyond a narrow. right now the base best of friendship they have, is the fiscal conservative constitutional limited governnt movement. let's not lose those frids for the friends they will never have let's get back to foundation of good public policy that encourages growth in the economy, and in a tax system that is fair, honest and not inhicktive of growth, and understand this. this president, with this benghazi debacle staring him in the face, and that will -- he will have to come to terms with that, cannot afford to be the president that allows massive rtz in defense. -- cuts inn defse, leverage that situation, he is just as afraid of being caught as the guy who was irresponsible in our national security allowing a massacre of our diplomats in libya, and n willing to cut defense, he is just as affaid of that scenario. neil: the
the election last week, charlie gasparino, on all of this. what do you make? >> i think this is bad stuff. if the republican cave, which i don't think they will, i'll tell you why later, and they give in market hates it, you talk about raising taxes on rich that is small businessa file as individual they tell you that is never% of small business -- 97% of small businesses, don't get affected by this but they employee most people in the country. we're not talks the freelance writers that call themselves a small business. neil: i don't think that the president cares? >> he does not care, this election is worse case, we called this a fiscal cliff scenario, president went to narrow majority but he still wins. and republicans keep the house, you have a fiscal cliff scenario, and they are emboldened, and republicans say you don't have a mandate, and you have loggerheads, i believe that the fiscal cliff is basically the -- odds on favorite here, not a compromise, republican -- >> would republicans then -- or democrats, play this to their advantage. if you come totten of the year, this is preside
after the election . taxes are going for individuals and businesses. do they dump the people on medicare and you will see another thing happen, fewer full-time yobs and not catching up in obamacare. >> rick unger, it is not just businesss and folks of businesses making over $150,000.ine those making $50,000 or more it will cost them money . it is going to cost and maybe it is good in the long run but it costs. >> the arguments remind me what we heard in the 60s when fica taxes were doubled to pay for medicare . we survived. you would not imagine calls i have had business owners and cancer survivors it is going to survive and now the law of the land. we'll talk about it in three years and not going to cost a yob. jobs are going to grow. >> is this a rick unger. are you willing to put money on the bet? >> i am absolutely willing to put my money on it >> mike, in fact they put together a list of people who are going to be affected from different income. it will cost you if you are making $50,000 and $75,000 it is $1600. not just the rich and business owners that pay this. >> no, why is the
not -- what they learned, as i was just suggesting, is that the president's attitude before the election was totally political and security for the reelection. if you remember, april 2011 when they thought they had the proposal on the deficit, went to george washington university to listen to the president gives his counterproposal, he vilified them. and it never stopped doing that for the next year-and-a-half of through the election. the big question is, when we heard from speaker painter, what exactly is going to be the president's opening bid? dagen: four years out, what do you expect to see in terms of social security, medicare, tax cut. >> i think it's going to be very difficult. if the republicans managed to do some of reach, public opinion. and in the election they did have -- romney did have support for his positions on medicare. that was not repudiate. the public does realize at this point that they need to reform those two entitlements. i think they have a basis, at least, for making that argument with president obama and the democrats, but it's going to be difficult. connell:
. charles: democrats feel the election was a mandate to raise taxes on the rich. that could hold up any deal this democrat senator, kent conrad. >> and look, you can't settle every detail in these next few weeks, what you can do is agree on a frame work agreement this sets out for the committees of jurisdiction how much they need to say it, how much money needs to be raised, what we can also do, is have a significant down payment so the markets understand we're serious about this. charles: meanwhile, the president will spend the week trying to get various groups, including the public to support his version of a compromise. and david, what do you think. >> meet the new boss, same as the old boss, this is the same thing, reduction part two and obama is not going to change, he's a progressive and he's got the flexibility. charles: flexibility. >> to talk to putin about it and same people to put on a dog and pony show, look, he has no reason not to. he doesn't have to run again. charles: i'm worried we saw in before and same people going to capitol hill and the same results. the opening bell aft
of the presidential election. saying the optimism index rose slightly last month claiming 93.1, while just 4% of those surveyed said they plan to hire. we have the cme trader in the pits of the cme. telling us another downturn is ahead, and says a recession is on the horizon. todd, you say the technicals indicate that we should be going even lower than we have today. why so? >> good afternoon, david. we are now in a technical pattern with lower highs and lower lows. another indication of why we would want it to go lower here. in lower moves we can expect bounces like we had today. i would think any rally we see in the next couple of days will be gladly hauled into. based on the technicals of the market we have lower highs and lower lows. it wants to go lower and take the correction that has been long overdue. david: gold, silver, they are not topping palladium and platinum are for different reasons but gold is a little lower today. why do you think that is so? >> gold is just another commodity. the flight to safety really is the u.s. treasury bond. gold being a commodity is up against a level 1750 loo
Search Results 0 to 49 of about 104 (some duplicates have been removed)